我国金融监管组织架构优化路径选择的实证分析

Empirical Analysis on the Path Selection of Optimizing Organization Structure of Financial Regulatory in China

统一监管组织架构已成为金融监管组织架构变迁的一种趋势,但由于各国金融业的发展程度和经营环境不同,金融监管组织架构优化的路径选择也就有差异。影响金融监管组织架构变迁的因素有体制因素、金融因素和治理因素。选取33个代表性国家样本,构建有序Logit模型对影响金融监管组织架构变迁的因素进行实证分析,并运用有序Logit模型对中国金融监管组织架构进行分析,结果表明,目前中国分业监管组织架构是合适的,随着中国金融业的发展和混业经营的深入,中国应首先提高治理水平,然后逐渐整合金融监管机构,最终建立统一监管组织架构。

To unify regulatory organization structure has been a trend to change organization structure of financial regulatory. But due to the different financial development levels and operating environment in various countries, the path selection to optimize the organization structure has also differences. The factors which affect the changes of organization structure of financial regulatory are institutional factors, financial factors and management factors. In this paper, we do the empirical analysis on the impact factors of organization structure changes of financial regulatory by selecting representative samples of 33 countries and constructing the ordered Logit model, and then analyze the organization structure of financial regulatory in China. The results show that China＇s current organizational structure of separate supervision is appropriate. With the development of China＇s financial sector and mixed - depth, we must first improve governance, and then integrate the financial regulatory agencies gradually, ultimately establish a unified regulatory organization.